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20121108
20121116
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KPIX (CBS) 2
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CBS
Nov 8, 2012 5:00pm PST
coast to help east coast. we have 49ers here, dennis brown, dana king and all of us have been just moved by your stories. i have $30 in my checking account but i'm still going to give you 10. any amount helps. you can still help by calling 1- 888-5-helps-u. get this. right now, liz and allen, we are up to $93,000 with two more hours to go. >> wow. people's generosity is astounding. thank you. >>> the good news, the election is over. the bad news, now you're going to be hearing a lot about something even more terrifying. >> the so-called "fiscal cliff." >> reporter: the so-called "fiscal cliff." >> looms the so-called "fiscal cliff." >> the looming "fiscal cliff." >> the impending "fiscal cliff." >> what's looming and impending is a term coined by fed chairman ben bernanke. without a budget deal before the end of the year, families will see their taxes go up two to three thousand dollars. and 1200 government programs will see their budgets slashed. and this could be a tough blow for an economy making a slow recovery. >> it's very, very likely we suffer very deep recession and i don't thin
CBS
Nov 7, 2012 5:00pm PST
was unlikely to disappear from the public altogether. >>> voters endorsed proposition 30, governor brown's plan to hike sales and income taxes to raise $6 billion to balance the state budget. so what comes next? cbs 5 political insider phil matier spoke with the governor today. phil. >> reporter: that's right. this is a first step, but we didn't go off the cliff but it's still a rocky road here in sacramento and for california. >>> we're not going to see the $5.5 billion of cutbacks to k- 12. >>> reporter: educators however say there's still more to be done. >> it wasn't about piling a bunch of new money on schools saying we are going to make new investments. it was about stopping the cuts. >> reporter: and let's not forget, the state still faces a $32 billion wall of debt from past borrowing. >> you have to make sure over the next few years that we pay our bills we invest in the right programs but we don't have the latest spending binges like we did in the days where you had the dot-com boom. >> reporter: the other news out of the election, the first time since 1933 the ruling party in this ca
Search Results 0 to 1 of about 2